Moscow: The European Union is planning to restrict the trade of Russian diamonds, European Council President Charles Michel said on Friday.
Earlier in the day, UK Prime Minister Rishi Sunak announced an embargo on imports of diamonds, among other things, from Russia. The sanctions also include a $4 billion freeze on the diamond export market.
“We are now focused on shutting the door on loopholes. And continuing to cut Russia off from critical supplies. We will restrict trade in Russian diamonds. Russian diamonds are not forever and we will lay out openly and frankly why these sanctions are necessary and justified,” Michel said in a statement before the G7 summit in Hiroshima.